“Emerging-market stocks rose for a fourth day, led by technology companies, as China’s industrial profits increased and U.S. lawmakers prepared to resume budget talks.
BYD Co. (1211), the Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc. (BRK/A), climbed to an eight-month high in Hong Kong after saying it plans to build a solar power plant. HTC Corp. (2498) advanced to the strongest level in three months in Taipei.Turkiye Is Bankasi (ISCTR) AS, Turkey’s largest bank by assets, gained 1.3 percent as the country’s benchmark index climbed to a record high.
The MSCI Emerging Markets Index added 0.4 percent to 1,050.68 at 11:17 a.m. in London, heading for its biggest gain in more than a week. Net income at Chinese industrial companies increased 22.8 percent to 638.5 billion yuan ($102 billion) in November from a year earlier, according to government data today. U.S. lawmakers today will resume budget negotiations aimed at avoiding more than $600 billion in tax increases and spending cuts scheduled to take effect Jan. 1…”